Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Wed, 25 Nov 2020, 10:23 AM


Daily Technical Highlights – (SWKPLNT, RCECAP)

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SWKPLNT (Not Rated)

  • SWKPLNT rose 4.0sen (+2.29%) to close at RM1.79 yesterday.
  • Chart-wise, the stock has been on an uptrend since late-July last year.
  • Yesterday’s bullish candlestick continued to trend higher above the 100-Day SMA while backed by an uptick in key technical indicators. Coupled with a bullish MACD, we expect the upward momentum to persist.
  • Should the uptrend continue, key resistance levels are seen at RM1.90 (R1) and RM2.10 (R2).
  • Conversely, key support levels can be seen at RM1.60 (S1) and RM1.50 (S2).

RCECAP (Not Rated)

  • RCECAP gapped up by 8.0 sen (+4.73%) to close at RM1.77 yesterday.
  • Chart-wise, the stock has been consolidating since November last year.
  • Yesterday bullish candlestick continued to close above all key SMAs. Given the uptick in key technical indicators and aboveaverage trading volume, we thus believe the share could trend higher.
  • From here on, resistance can be identified at RM1.85 (R1) and RM1.90 (R2).
  • Conversely, its support levels can be identified at RM1.65 (S1) and RM1.50 (S2).

Source: Kenanga Research - 20 Feb 2020

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Related Stocks

Chart Stock Name Last Change Volume 
SWKPLNT 2.18 -0.03 (1.36%) 115,400 
RCECAP 2.17 0.00 (0.00%) 334,500 

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